Know What the 'Fuel' For The American Revolution Really Was?
".... the problem directly faced by the King and Parliament was paying the interest on the national debt
incurred by the Crown
What was the debt service to the King way back in 1770?
4.5 million pounds Sterling. £4.5M. Solely in interest to be paid each year on existing debt at the time. At least the interest rate was only 3.46%
4.5 million pounds Sterling. £4.5M. Solely in interest to be paid each year on existing debt at the time. At least the interest rate was only 3.46%
'Could that EVER happen in the United States of America?' you might be wondering?
'It already HAS happened in the United States of America!'
'It already HAS happened in the United States of America!'
10-year government bond rates reached 16% in 1981. 16%. " [Left Coast Rebel]
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